Definitely not. Hell, a lot of that is because they are a developing nation with lower costs. You don't get near double digit growth rates in developed nations...
UN Chief Blames Rich For Global Warming…
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Definitely not. Hell, a lot of that is because they are a developing nation with lower costs. You don't get near double digit growth rates in developed nations...
It's that much cheaper to build infrastructure in China? It's not GDP that makes a country developed, it's infrastructure that makes a country developed and they still have a looooong way to go so expect to keep on seeing rapid growth that follows infrastructure.
It's lack of infrastructure in western Canada that is impeding Canadian growth. Thank God China is building it for us in exchange for access to resources.
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You said per capita is irrelevant and all it meant was that we have more industry. We don't have more industry unless you consider per capita normalization...which isn't really a poor metric at all. Normalization allows for comparisons of dissimilar scales. Economists use these metrics all the time precisely because they are not irrelevant. If a countries GDP is worth $100 billion in a year, then it matters a great deal if the population of the country is 10 million or 5 million. It's twice the value to an economy with 5 million people versus 10 million people.
And how much is generated in Canada by foreign-owned companies? Good and interesting question. I may research a bit.